Right now, the altcoin news show that along with Bitcoin, most of the cryptocurrency market is stabilizing. There is no doubt that a new decrease could be on its way. However, the bigger picture shows that a new uplift is definitely possible – and that BTC to $10k is definitely a reality.
In times when analysts are not sure where is Bitcoin headed to (after having predicted $2,000 lows), everything seems like an icy ground to step on. However, many experts are sure that the crypto winter is over and the current price predictions indicate that BTC to $10k may be a something that we will see this year.
In the latest cryptocurrency news, we have the CEO of the stocks and investment website ADVFN, Clem Chambers, who claims that the crypto winter is over and that Bitcoin could hit $6,000 soon before going even higher. For Chambers, BTC to $10k is definitely a possibility, mainly because of the greater interest coming from China due to a possible Yuan dollar depreciation. As he said:
“Money flowing into stablecoins is going to lift bitcoin because fundamentally money flowing into crypto is what sustains and raises prices.”
Chambers also explained that crypto assets need an inflow of new money to maintain the increasing supply as new blocks are mined. When it comes to his BTC to $10k prediction, he asserted that supply and demand is what creates the price and said that for “new supply to be matched at current levels, more than $3.3 billion dollars has to flow into bitcoin to make it go up.”
Many best cryptocurrency news sites recently went with headlines stating that “Bitcoin is the new gold” and comparing BTC to the gold market which is with an estimated $5 billion in market capitalization. Even though the crypto market is far from that valuation, BTC is definitely eating into the interest of gold.
As Chambers noted, if Bitcoin takes a fraction of the gold market, BTC to $10k could be real and could surpass all previous all time highs.
“Bitcoin winter is over, the price is going up, the only question is how high. For now $6,000 is an easy target and $10,000 a coin this year is not such a hard target. I’m still accumulating,” the market maven concluded.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post